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in it that's pretty -- it's sort of outlined but not detailed in legislation and has a big, big dollar figure around it. so, sort of the big plan. passing that along with a debt ceiling as sort of a big theory option instead of this mcconnell/reid plan, but it's so vague, as you can tell, and nothing that i have as any sort of firm plan, just, like, something that's sort of out there in the ether, they just don't have a plan at this point, no one does, john. >> it sounds like, and some people at home are saying, my god, there they go into washington speak again. i'll try to simply phi it. they are trying to fit certain pieces together to get you to several trillion in deficit reduction and that seems to be where we are, a bunch ideas. i'll go over to the wall a little bit, because jess talks about the mcconnell plan, that would give the president the authority to raise the debt ceiling and maybe they would come up with a commission with spending cuts. that's one backup plan. another backup plan is the gang of six. and i want to bring up the gang of six yesterday we talked about that. they hav
at losses, big concerns over the solver debt crisis. report in a german newspaper is speculating that england may have to be included the bailout. so the european debt crisis is extending beyond grease, portugal and ireland and potentially italy. this is where we're looking at the european stock markets. off by more than 1% with the paris cac. reasons do with the greek debt crisis. a move away from the partial default. london ftse where banks are affected but not quite so badly as in germany and france up by about quarter of a percent and the losses are 2/3 of a percent for the seger smi. we'll have more of that coming up. >>> in terms of the currency markets, here we are, the main story here is that the euro remains under severe pressure, and i think that currency traders are talking in terms of the picture we've seen in recent weeks on the dollar coming to an end and that the dollar will remain in these kind of circumstances the safe haven currency. so looking at 1.5967. again, the pound under a lot of pressure. the euro, 1.4153 and 80.72. remarket stability for the yen dlafrmt
on that in just a moment. i wish i could say there's big news about the debt ceiling talks. i can't tell you that. there's more drama than dealing going on in d.c. right now. a fifth round of talks is set for today. but yesterday didn't go so well. house republicans called for a short-term extension and house majority leader eric cantor says this is what the president said in response. quote, don't call my bluff, eric. and then he walked out a few minutes later. president obama said all along he'd veto any short-term measure. ed administration says failure to raise the $14.3 trillion debt ceiling by august 2nd could trigger a partial default on the part of the united states. thanks to that debt ceiling issue and the possibility of default you're on notice. i'm on notice. everyone from maine to san diego is on in. moody's investor services, the debt rating agency plans to review the nation's aaa bond rating and might downgrade it from stable to negative. standard & poors has the u.s. bond rating under review. let's talk about foreclosures for a second. realty track, the company that tracks the for
to the start of wall street, u.s. futures to a pretty healthy open. it's in the shadow of the big jobs number out tomorrow. >> indeed. we'll have to see what difference this makes. now, in the u.k., an enormous story, really, that is shaking the government in some ways. certainly putting the prime minister under pressure in parliament. police are theying there will be a full investigation into new hacking allegations, into "the news of the world." it's a sunday newspaper. advertisers are turning their backs on the u.k.'s most popular sunday read. the tabloid stands accused of hacking into the phones of a missing schoolgirl that was later found dead. as well as relatives of the 2005 london bombings six years ago. and the families of soldiers killed in iraq and afghanistan. revelations have made waves across the u.k. and even led to a debate in parliament. and definitely in that debate, i think it's fair to say that the prime minister at times looked very much to be on the back foot. >> he seemed to be. very close with the former editor of "the news of the world." shareholders also getting out
big development. this is the first member of the key negotiators in these debt talks has come out publicly to say he is on board. this coming from senate majority leader harry reid. the top democrat in the senate. a statement we just received from his office says senator reid has signed off on the debt ceiling agreement pending caucus approval. of course, pending caucus approval means pending -- getting the same sign-off from his fellow democrats. that, of course, leads me to believe he will probably be having a caucus meeting or at least some kind of conference call with his members at some point soon to discuss this with them. but this is a major development. because as we know, we were just talking yesterday, this is the same man who came back from a meeting at the white house with the president, seeming very pessimistic about the prospects of a deal. today we heard him speak cautiously optimistic as he said. now we have for the first time one of the key negotiators publicly coming out to say that he has signed on to these -- to the debt ceiling agreement. of course, we need to
place over here in the uk. this is one division that has the big question mark over it, the publishing division, $997 million in 2010, 22% of operating income for the company. we have "the wall street journal" front cover, they purchased that for $5 billion. you have $200 million coming from the uk. not a game changer but whether this spills over into the other businesses that rupert murdoch owns. the next division, u.s. broadcast networks, they have about 37% penetration into u.s. house holds, this represents 9% of the bottom line, $409 million they have, tv stations scattered throughout the united states, again, does it spill over because of reputation? right now analysts we spoke to on wall street say not just yet, last division here, sky italia here, scott mockridge, it represents 4% of the operation, not a game changer but feeds in. bskyb would have brought in 15% of earnings per share in 2012 if the deal would have gone through, been held off for 12 to 18 months and it may not happen at all. you take a step back from all the numbers i hoad you, $636 million loss, about 14% of the
days. 106 expected high temperature in the big "d." it will be 92 in kansas city and 80 in new york. that's cooler. 86 with storms in atlanta. some researchers out of the u.k. ali, want to share this story with you, you're a big movie buff and science guy at the same time, researchers out of the u.k. are calling for regulations to curb the integration of human genes basically with animal genes. they don't want to create a human animal, hybrid. who wants that? i can't help but think this has something to do with the release of the "planet of the apes" movie coming up in the beginning of august. called something like "rise of the apes." a popular show when i was a kid and i might see the movie in a couple weeks. >> do you know if we're anywhere down the road close to cloning human/animal cloning? >> we don't need a half man/half horse running around the office. we do use the genes for beneficial scientific uses to try to discover some cures of the diseases. >> it's always the fear someone will use it for the wrong thing. rob, good to see you. check in with you later on. rob marciano i
to be a catastrophe if they don't. big business is scared. if there's a default, they're going to lose a whole lot. >> reporter: americans don't like hearing about politicians losing their tempers during negotiations. >> i understand it's difficult. my job is very difficult. i don't have the option of walking out of a meeting. that would be considered completely inappropriate. >> reporter: many americans believe the debt ceiling needs to be raised but not everybody. >> if i have a credit card with a certain limit and i'm overspending, the answer is not to increase my spending limit. >> is this going to put a greater burden on us as the american people and i just don't think it will help the situation. >> reporter: but there are eternal optimists. >> no matter what they do, we'll survive. >> reporter: a hopeful note as we head into the home stretch on the debt crisis. fe lee shah taylor, cnn, new york. >> let's go over to south africa, where david cameron, the prime minister of united kingdom will be speaking a bit later on alongside the south african president jacob zu ba. that is the conference a
, again, big difficulties with the sydney s&p 200 by more than 1%. let's move over to europe. we're a touch into the hour on the trading day. a decent run-up on some of these markets in the course of last week, off by -- well, actually only a fraction of a percent now. it has been more than that, half a percent for the cac. in the united states markets clearly opened -- will be opening in less than five hours' time and we're looking to a lower start as well. off by 1%. certainly a little pessimism. maybe some optimism mixed in. we will, as hillary clinton says, see a deal in the course of day or the next day or two. >> yeah, it will be interesting to see how the european markets pan out as well and how it affects the u.s. futures. you know, this talk of possible default is actually sending some investors to safe havens like gold for example. hitting a record high of $1,617.30, now it's $1,617.30. the oil price pulling back just a tad over the back of what's going to happen to the u.s. economy and demand for crude. charles. >> hmm. now, if hillary clinton is right and a deal is ju
, it could be too big to fail. >>> nina, we're also seeing investors flee to the safe haven of the yen. it has broken that 80-yen mark but weakening just slightly from yesterday at 79.63. china announced a higher than expected gdp figure for june which eased worries about an abrupt slowdown in the economy. but the debt crisis in europe is still keeping many investors on the sidelines. ramy inocencio is here with a look at asia's closing numbers. >> the gains across the region were pretty good yesterday. the meek kay closed up .4%. credit suisse gave them on out performed rating over here in hong kong, the hang seng closed up a little over 1% here. that's off its worst two-day decline in 17 months. the catalyst here was that better-than-expected gdp number out of the chinese main land. on the mainland the gdp number was 9.5% for june. what was expected was 9.4%. with that the composite rose 1.5%. that was helped by good news from agricultural bank of china after saying its first half net profit would rise by nearly 50%. going down under, the asx rose nearly half a percent. that was prop
of the new session, the big numbers, the nonfarm payrolls out friday. i think the data that more people watch around the world's financial markets than anything else. economists we have been speaking to forecast a gain of 125,000 jobs, plus 125,000 jobs in the month of june. however, that is not enough, because the consensus is that under the present circumstances the united states economy needs to create 150,000 to 200,000 jobs every months, and that's just to keep pace with population growth. so demographics, demographics, demographics. let's look at where the u.s. futures stand in the pre-market action. slightly mixed. broader market off a bit. but the good news is both the dow and the nasdaq are looking right now for gains of around about a tenth of 1%. andrew? >>> now, top u.s. politicians gathered at the white house trying to beat a looming deadline to raise the nation's borrowing limb. but it's hardly a meeting of minds. and nasa is fueling up "atlantis," hoping to launch the final shuttle flight in a few hours from now. but there's one thing that could still get in the way. welcome. i
that we have to have the big bang here in brussels. europe has to speak with one voice. they have to come up with a grand plan. even if it's not today. but they have to have steps today about, for instance, do they tax the banks here in europe to get more money to give to greece? do they allow this efsf, the current fund that's helping to bailout greece and ireland. do they allow that to be more flexible. it's complicated. but the point is, people want to see firepower. want to see that the politicians are thing as much as they can that make sure that the euro survives. and make sure there isn't an attack on the bond markets. so, we want to see a lot of words coming out of here. then, see some actions. it will be really interesting. it could be all day. we could be here late into the night to see if they can have common agreement on these two very important issues. >> jim, we should talk about the banking sector and how this affects some of europe's largest banks that are heavily exposed to sovereign debt. of all of the 17 nations that share the euro. there are proposals for them to be ta
currency including the euro, jach knees yen as well as the british euro. the big news out of australia today, well, basically the aussie dollar is near a 30-year high. since last year alone the aussie dlar has risen this much, 18.6% against the u.s. dollar. tony morris told cnn there will be winners and losers because of this. >> certainly going to make it more difficult for exports overseas, particularly manufacturing. will make it much harder for the retail sec tor to compete with cheaper goods from overseas. another direct impact, it makes it much more expensive for tourists to visit. those parts of our economy for the tourist sector, we're not going to benefit so greatly from that. the wig guest winners for this are the consumers. find it far cheaper to buy hopefully things on the shelves, for example. >> so the aussie dollar's record strength comes partly thanks to the debt ceiling deadlock in the u.s., but also linked with higher-than-expected inflation down under. australia's latest cpi reading came out today at .9%. many analysts were expecting .7%. because of this higher figur
about today. the jury in the casey anthony murder trial got a big job to do this holiday. deliberations are expected to begin in a few more hours. first, the prosecution has some rebutting to do. the defense claims the state did not prove that case say anthony killed her daughter caylee but they played with the jury's emotions. >> you see the strategy behind that is, is if you hate her, if you think she's a lying, no good slut, then you will start to look at this evidence in a different light. you will start to, oh, wait a minute, maybe i'm seeing something that's not there and start to actually discriminate against her rather than give her the standard that is afforded to each and every citizen in our country. >> the trial in orlando gets under way at 8:30 eastern. the judge warned the jury today will be a long way for them. >>> fox news politics on twitter, someone has clearly hacked the twitter handle. the site is putting up all kinds of insane, inappropriate and untrue tweets about president obama. basically april fool's type stuff that isn't funny. we reached out to fox and twitter
by suicide. let's talk about this change with chris lawrence. >> reporter: this is a fairly big change. even though, graptnted, only affect a small number of troops who commit suicide. still, ongoing fight in the military and outside the military among families to sort of destigmatize suicide. i think if you listen to the president's statement, that is exactly what this was designed to do. , to sort of, you know, put suicide in a different light. the interesting thing about it was the president had commissioned this review of this policy before making the decision. he said the review was exhaustive, it was tough. which suggests that in some level, there was, you know, some pushback and we look more into that throughout the day to find out exactly maybe where the pushback was and why the folks who didn't want this change, why they felt that way as well. >> as we know, suicide has become a really sad reality within these two wars. chris, thanks. >>> republicans in the nation's first primary state weighing in with their picks with the primary candidates. jim acosta is joining us with a new poll
of washington's impact. but mining stocks with big drags here. we have rio tinto. financials fell. >> you know, ramy, we've been so preoccupied by what's happened in washington that sometimes it's easy to lose sight of the fact we are in the midst of earnings seasons. we've had reports across the region. >> nintendo, they slashed their full year's forecast earnings by a whopping 82%. that's because gamers aren't so interested in their handheld 3-d game players which came out five months ago. that would be the 3-ds. that's the biggest fall in the past two decades. you're looking at a year to date. nintendo share prices dropped a whopping 47%. it's a similar story, not so bad for sony. they cut its profit estimate for the year by about 25%. this was yesterday. that's because of weak demand for tvs like this bravia over in the u.s. and europe. sony's share price year to date has also dropped by about 35%. but, you know, it's not all doom and gloom. they say its net income surged to about $1.31 billion. this is for the six months to may. forecasters had been -- forecast had been for earnings for a
especially in chicago and detroit. the big culprit. thunderstorms. major delays possibly other an hour. flight delays. that is not flight congestion. that is flight constipation. that is horrible. backups in miami and tampa. >>> meanwhile, again, the heat will continue through much of the nation's midsection all the way up in parts of the central plains, northern plains. scattered storms across the four corners after it gives a few delays in parts of the southeast as well. ali, let's pitch it right back to you. >> reynolds, thank you so much. good to see you. >>> i want to bring you up to speed on the movie "transformers." "transformers" continues to crush the box office competition. see how it stacks up against its competition when we come back. couldn't resist making this the quote of the day. guess who said this, quote, didn't resist arrest. i'm in a neck brace. how am i going to resist arrest? i'll tell you right after the break. ♪ [ doug ] i got to figure this out. i want to focus on innovation. but my data is doubling. my servers are maxed out. i need to think about something e
session and those three-month lows for the euro so pretty bleak picture. >>> at the united states a big sell-off on wall street. major averages tumbled, major worries. financial and technology shares were among the biggest losers on monday, bank of america, citigroup, jpmorgan chase and wells fargo all closed roughly 3.5 to 5.5% lower, so really this is touching off fears of a broader financial crisis and don't let's forget the whole situation of the biggest slowdown in the world economy since the 1930s started with the financial crisis and now the worry is with he might go there again. at the close of the play there were triple digit losses for the dow, nasdaq, each closed roughly 2%. painful, pauline. >> let's look at the stock market futures and trading session in the u.s., it's right across the board as well, here's where the u.s. futures stand in premarket action the dow poised to open down by almost 1%, about the same amount for the nasdaq. the nasdaq ended monday's session down 2%, so that's not good news there. also the s&p 500 poised to start the session on tuesday down by 1.25
of the big monthly jobs report. there wasn't an awful lot of movement, as you can see, at the end of the session. the s&p and also the dow were each off by just a fraction, and the nasdaq meanwhile managing to choke up just a small gain. pretty modest, though. about one-third of a percent. this is how the future markets are trading. it seems that we're in for a flat start at the moment. a number of indices down if we look at the futures. but only by a bit. about .07%. >>> britain's most popular newspaper is under hot water. they are facing allegations of phone hacking. today british lawmakers will debate calls for an urgent public inquiry into the affair. this all comes after new claims suggest that after the london underground and bus bombings of 2005, this paper may have tried to hack the victims' phones and the phones of their relatives as well. >>> the new phone hacking claims that have caused so much anger across the united kingdom also centered around a 13-year-old who disappeared on her way home from school back in 2002. her decomposing body was discovered six months later.
. >> you know, there's a big question that i have here about trading partners. we were looking at the evolution of countries and populations over the next 40 years. a new report says that in 40 years out, india is going to become -- push united states out of the number two spot and become the second largest. >> that's right. china's set to be the biggest trader by 2015. india is to take over the united states by 2015 as number two. this is a huge surprise. what's behind india's rise? >> they'll benefit from the rise in trade between emerging markets. between the brick economies and they're creating new winners and that will include india. >> very interesting. the report from the u.s. census population that it will become the most populous country. >>> take a look at this video. it's a little creepy. it's a dentist robot. a lifelike patient that dentist in training train on in japan. the robot -- look at this. it's creepy. it can sneeze, move her head. cough a little bit. the dentist can get actual training without actually hurting anyone. i'm probably a little -- i'm happier th
mean they've got to pass something big and get it implemented quickly if we're not going to blow past that anyway. >> they really do. you heard secretary geithner yesterday saying that essentially we're running out of runway now and this is something that everyone has been dealing with for many, many months. what speaker boehner, according to one republican source, told gop lawmakers yesterday, is that they have to vote on some kind of a plan by wednesday and they have to post it on-line by today. so, you know, these are pretty tight deadlines that they're up against right now and last check, you know, they're still not close on a deal yet. nonetheless they have to get something done as he pointed out by wednesday to meet that august 2nd deadline. >> they don't have to be tight deadlines. >> never has to be tight deadlines. >> this is a crisis made in washington. >> as mark preston told me about half an hour ago, on the phone, he said guys, it's washington. that's -- >> this is how it always works. >> we'll be with you, talking many times. i have to tell you, grover norquist, the pres
than brussel sprouts or peas or a debt clock in new york needs two lines to show you how big our debt is. more on that through the course of the show. >>> julian assange, mr. wikileaks, the most famous whistle-blower on the planet, his court appeal begins in london. this has to do with sex accusations in sweden. assange denies them. he's tried to avoid extradition, that's what this appeal is all about. his lawyers are afraid if he gets extradited to sweden will extradite him to the united states on these leaking charges. >>> take a look at the surveillance video with me from bourbon street in the french quarter in new orleans. a guy in a black shirt and ball cap shooting right there on the street. you can see people scrambling out of the way. two bystanders got hit and survived. police hope the video leads them to the gunman. another shooting 24 hours earlier a police officer was shot and killed. sorry a police officer shot and killed an armed man who had been scuffling with bouncers at a club. >>> it looks like a new weapons reporting plan is going to happen, it would require gun dea
be wind after the desert in africa and turns into something monstrous. we don't know really how big this might become. we know there's a fairly good chance this cluster of storms you have on the map might become a named storm. emily would be the next one. don was a bit of a dud. maybe emily will but you never know, this might be something it could be, maybe the best next to katrina. you never know. these storms form and veer off to the north and usually avoid much of the islands in some of the east coast. there's always the scenario we could see this take a trajectory, make affect the leeward or windward islands. there's also the chance it could thread the needle, go into the gulf of mexico. everything bears watching and that's what we're going to do with this particular system, again, as we speak, it is about 100% chance, the national hurricane center believes, 100% chance this will become a named storm. meanwhile in terms of storms, we might see plenty of them in parts of the northern plains today. all the components are there, the high humidity, with that we also have a lot of he
. about 75 miles in your terms. yeah. it was a big shake. it felt like a big shake. we're not used to that sort of magnitude earthquake. for many people, they got a frigtd. but everything is fine. a most unusual event. >> mark o'brien, network 10 reporter, from melbourne. >>> neighboring new zealand was hit by an earthquake on tuesday. the 6.5 magnitude quake was felt on most of the country. it was centered in taupo. but it was felt as far down as the capital of wellington. residents were shaken. but there's been no reports of any damage so far. as network 10's reporter, mark o'brien, was telling us. >>> you're watching "world business today." her first day on the job as the head of the imf. we'll look at the kind of leader that lagarde is bound to be. >>> a place where money seems to be no object. and gracing group buying sites. ♪ sing polly wolly doodle all the day ♪ ♪ hah nymex trieding down on 28 cents on the dollar. from cnn london, this is "world business today." welcome back. a die after winning thailand's general election, the new prime minister has announced her gove
place than does greece. greece has two problems. first, it has a big budget deficit and markets have lost faith that it can ever repay its loans. second, it is an unproductive economy and cannot generate enough economic growth over the next few decades. in economies, degree has a liquidity problem but also a solvency problem. the united states, by contrast, does not have a solvency problem. the american economy remains one of the world's most competitive with many of the fastest-growing companies in most of the advanced industries. it houses the best capital markets in the world, the greatest universities, the most dynamic society. america is demographically vibrant thanks to immigration. it will be the only rich country that will see its population grow over the next 25 years. america could face a liquidity problem, that is it could have difficulty financing its debts and deficits if markets lose faith in it, again, let's be clear. this has not happened yet. in fact, right now, the world is lending to america more cheaply than ever before. the most important difference between greec
of the big stories of the day. i think everybody is talking act this. it was a bombshell verdict. the question, was justice served in the anthony trial? carol. everybody has been talking about this nonstop. >> it seems that way. it's crazy. even people who are talking about it deny it later because they are embarrassed. it's out there. casey anthony might be a free woman as soon as tomorrow, found not guilty of murder. she could be sentenced to time served for lying to investigators. if that happens, they have a plan in place to sneak her out of the courtroom for her own protection. not accusing anyone. the emotion surrounding the case is frenzied. >> i don't know if they are watching the same thing we were. it's just shocking. i don't know. i don't watch anything like this, but the little girl. it's just wrong. >> a jury found casey anthony not guilty. an alternate juror telling us the question of how she died was not answered. in public opinion, anthony is guilty as sin. >> most people, even the prosecution thought it was a slam dunk. you know what i think happened here? appare
a crime. it has been a rape or an attempt of rape. it is a big crime, and it will have to be punished. >> simon schama, in his column at "the daily beast," bernard henri-levy said this is like ropes spear. you wrote a book on the french revolution. do you think there's any -- >> i can understand bernard's passion about that, but as we know, the guillotine was the conclusion of that. that's not exactly what happened to dominique strauss-kahn. what i wanted to say to bernard and the discussion is that much of what he says i share, but i think it boils down to this kind of very lurid relationship between the tabloid press and the nature of criminal prosecution, spectacular. criminal prosecution or criminal apprehension, potential criminal apprehension, as a kind of public spectacle. >> like the casey anthony trial. >> yes. exactly. there is something in american public life, actually, which assumes it not to be problematic, actually, to make it a show before any guilt is necessarily proven. >> you have this tendency, also in france, and it was even more severe and as severe concerning fr
on this situation, ramy. apart from the debt situation, there are big earnings numbers out, nina. >> there are indeed. let's turn our attention away from debt towards ek wiltquitie. siemens, its profit almost halved dropping to $1.1 billion in total for the quarter and falling short of analyst expectations. its earnings slide is due to one of charges and it remains confident that its profit to the earned of september will exceed $10.8 billion. with more on those figures and what the future might hold for siemens, let's go to its ceo. thank you for coming on "world business today" today, mr mr. lucia. why did your expectations come in disappointing the market? why was it? >> we basically have one of charges and a very important one was in the -- with a very highly innovative pioneering technology for cancer and the technology is feasible but commercially not ready. so this is a classic case where you work on a high-tech innovation project and you realize that it's not yet prime time. >> when will it be prime time? you're talking about a therapy treatment for cancers. but won't the
than three-quarters of 1%. standard charter. about 3.5% this session. these are all big names to watch. a very big reaction. and now the headline is going to be what happens with the u.s. deadline. speaking of the united states, there was plenty of relief on wall street on thursday, again, because of the news of the european debt deal. that sent investors reaching for their wallets. at the close the dow is up 15250. the s&p was up one and a third per senn. let's take a look at how the markets are going and how things are set for when trading begins on friday. that's how the futures are looking. we're looking cautiously optimistic, i would say, nina. >>> well, it's le than two weeks to go, nina, until the u.s. could default on its $14.3 trillion worth of debt. they met with president barack obama on thursday. cnn spoke with jong king about why some in the president's party are very angry. >> they held a meeting with the president here at the white house for nearly two hours. it's never terribly good that it went on that long. no one is speak publicly about it but i'm speaking with some
but in the world of finance and business as well with his many, many endorsements. this was big, big news here today. china's stlal television has been broadcasting now for five hours live after this announcement that has really captured everyone's attention. yao ming, of course, went to the houston rockets in 2002 as a tall, gangly kid, has since emerged as one of the leading players in the nba, someone who has played for the nba all-star team, has also represented the chinese team at the olympics and world titles and so on. he was able to reflect today on that journey and took some time out for a special thanks to those people in the united states who helped him along the way. >> special thanks for my friends overseas, especially the fans in houston. i would like to thank you forgive me a great nine years during my nba career. nine years ago i come to houston as a young, tall, skinny player. an entire city and a team changed me to a grown man, not only a basketball player. >> he did that very comfortably in english as well, something he wasn't able to do when he first went to houston. it rea
and taking on the big issues. and that he called on the group to take on this challenge and then called the meeting to an end. no matter how you read that, it's clearly an increase in tensions on day three of these debt negotiations. with no sign of real progress with the clock ticking. and i do have it confirmed that this president really did say, you know, with my presidency at stake, i will not yield on this issue. >> the longer the deadlock goes on, the more the world is beginning to worry. moody's put america's credit rating under review on wednesday, hinting at a possible downgrade. that follows similar action from the other two big ratings agencies, standard & poors as well as another agency. >>> ben bernanke warned that congressional lawmakers and he warned them what could happen if they run out of time. >> fairly soon after that date, there would have to be significant cuts in social security, medicare, military pay or some combination of those in order to avoid borrowing more money. if in fact, we ended up defaulting on the debt, or even if we didn't, i think it's possible tha
could turn today into a big tease, we're hoping not but maybe. there's a 70% chance of bad weather so it might have to wait, then velshi waits. >>> the jobs report due out in a few hours. we expect it to be a lot better this time. cnn money predicting 125,000 jobs were added to the economy last month. adp, the private payroll company, yesterday said it counted 157,000 job added in june. both of those numbers blow away the figure for may. only 54,000 jobs created. remember, it takes 150,000 new jobs just to keep up with population growth in this country. we're also expecting the jobless rate to drop maybe a notch from 9.1% to 9%. of course, jobs, the economy, very political these days, right? president obama, congressional leaders are meeting again sunday to talk about raising the debt ceiling and cutting the deficit. the president has put social security and medicare on the table for changes. and he's hoping republicans will in turn support some tax reform. all this politically risky stuff. but obama says both sides are still far apart. here's the proof. >> i've also made clear that w
a deal, it starts to weaken the white house i guess. >> reporter: a big deal of deficit reduction obviously is feeling very elusive and chances of doing something like that seem to be very slim at this point. in terms of the debt ceiling, they are very much relying on a plan being worked out by senators reed and mcconnell, top democrat and republican in the senate, to move something forward so the senate can take a lead and the house can then follow suit maybe making some changes. i think right now that's the best hope. i do want to tell you looking at the president's schedule today, it's mighty bare. his normal presidential briefing and meetings with senior advisers but certainly there's a lot of room built in there for any sort of communication he needs to do with congress. >> right. there was talk they are working through the weekend so they are doing everything possible to come to an agreement. >> over night too. >> u.s. and libya hosting secret face to face talks since the libyan conflict began four months ago. the point of the weekend meeting was to send a clear message to m
the -- prevent the u.s. from going into default. the big question is, can all of this be done by the critical august 2nd deadline? and what the white house has been clear to point out in the past, the president would be willing to support any kind of short-term deal for one or two days if they need to cross the ts and dot the is of a potential agreement. the president would be willing to embrace something like that. so that's what we'll be watching closely over the next few hours, fredricka. >> dan, despite the fact that they had a vote, kind of procedural vote on that senate majority leader harry reid's plan today, when nancy pelosi and reid went to the white house last night, was that the beginning of working out this kind of framework? >> reporter: well, it's unclear whether that was actually the beginning of, you know, working on the particular framework. what we do know is that they're looking at the last 24 hours as a period when significant progress was made. so whether it's direct talks that was taking place with democrats and the president or with republicans and the president, as ka
places in the country. but the pinch is there and people are having to get leaner. >> reporter: the big draw this week is the battle re-enactment. despite triple digit temperatures, huge crowds are coming out to watch and the surrounding businesses in manassas are waiting for them. >> it's going to be a big jump for us as very independent, small businesses. something that normally some extra type of money that you wouldn't get, that you wouldn't have gotten otherwise. >> reporter: on this day, remembering the battle of bull run serves a dual purpose. learning more about our nation's history while providing some welcome revenue for a small town. brianna keilar, cnn. >>> what are your options if having a boss younger than you is a problem? some answers after the break. an accident doesn't have to slow you down. with better car replacement, available only with liberty mutual auto insurance, if your car is totaled, we give you the money for a car one model year newer. to learn more, visit us today. responsibility. what's your policy? sure, but let me get a little information first. for broc
a government so big and so expensive it's sapping the drive out of our people and keeping our economy from running at full capacity. the solution to this crisis is not complicated. if you're spending more money than you're taking in, you need to spend less of it. there's no symptom of big government more menacing than this. we're up to the task. i hope president obama will join us in this work. >> all right. love that home-spun economics. the key is to make money through higher taxes. that's the other approach, the one that speaker boehner says is destined to fail. >> the president says we need a balanced approach which in washington means we spend more and you pay more. i mean run a small business? i know those tax increases will destroy jobs. the president is adamant that we cannot make fundamental changes to our entitlement programs. as the father of two daughters i know the programs won't be there for them unless significant action is taken now. >> the political wrangling. both obama and boehner were trying to get them to strike the deal. the sun has set on yet another day without agre
was certyi71e a big factor and is a bigxdok factor in whatokxd do at the polls.xd it really knocked thailand's economy, and both sides are blaming each other for it. [ crowd noise ] >> reporter: this is the last push before voters go to the push before voters go to the polls in thailand. >> reporter:xd the pace for tha politicians is frantic. the people along the campaign trail arexd excited. [ cheers ] >> reporter: a virtual newcomer to politics is garnering loads of attention as she tries to okm minister. the youngest sister of the former polarizing prime minister and billionaire who was ousted in a 2006e1 military8g÷ coup an lives in exile as abuse of power charge await him at home. charges whichxd he denies. he has what you might call rock star status, especially here in the north. good looks and charisma. whent( you ask many people why they willxd vote for her, they y it's because they like her brother. hisokc supporters, known as thed shirt, almost worship him. critics worry she's simply his puppet. yourt( brother has said you're ó clone. how much like your brothere1 ark you
to something of a seesaw start and living large on the horizon, we get the big monthly jobs number out of the u.s. let's get to europe. nina, how's it looking? >> well, european stock markets, an drew, seem to have been taking their cues from asia, but starting out, generally speak, of an optimistic note. the eu's approval has eased some investors' worries. we'll have more of that in just a moment, but taking a look at the markets as you can see, it's broadly speaking a mixed picture. the cac 40 down but we have pretty modest gains from the ftse 100. >> modest indeed. certainly here in asia, nina, things getting off of the a stronger start. the trading day is, of course, winding down. concerns are high, the european debt crisis being pushed aside. the nikkei up by nearly 1%, just at that 10,000 yechb threshold. it did cross a little earlier in the day and has pulled back from that. and that was thanks in part to tokyo electric power. shares up by 0% today. the company at the center of japan's nuclear troubles is getting very good news. senior government officials have proposed a plan to take up
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